Is Stitch Fix the Role Model Blue Apron Needs for Its Turnaround?
Blue Apron (NYSE: APRN) has been one of the most-maligned IPOs on the market this year, and it's easy to see why.
Shares of the meal-kit service are down nearly 60% from their $10 IPO price, and were down as much as 70% before the company ushered out CEO and co-founder Matt Salzberg to replace him with CFO Brad Dickerson, who had previously served as CFO and COO at Under Armour.
While the company owes many of its problems to its own mistakes, including a mishandled transition to a new facility in Linden, NJ, the success of Stitch Fix (NASDAQ: SFIX), another -subscription-box service, may shed light on a fundamental flaw in Blue Apron's strategy.
Source: Fool.com
